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Dangote to open US$35M cement factory in Liberia

Channels TelevisionUpdated March 19, 2012

The President and Chief Executive Officer of Dangote Cement Nigeria PLC, Aliko Dangote on Friday his company is planning to infuse over US$35 million dollar into the Dangote Cement Liberia limited a subsidiary of the Dangote Cement PLC of Nigeria.

Speaking during the signing of the memorandum of understanding between the Liberia government and the company, held at the head office of the National Port Authority, in Monrovia on Friday, the Mr Dangote spoke highly of the interest his company has in helping to robustly boost the growth of the Liberian economy.

He also said that his company which is expected to start operation in the next six weeks will employ hundreds of Liberians, and other nationals.

He said that the parent company of Dangote Cement Liberia (Limited), Dangote Cement PLC Nigeria which was established in 1978 has to its credit over US$15 billion investment capital, and therefore, promised to infuse similar assets into the Liberian economy.

Signing on behalf of the Liberian Government, the Managing Director of the National Port Authority (NPA), Matilda Wokie Parker welcomed Mr Dangote and his delegation to Liberia, and lauded the initiatives being applied by his company to come to Liberia and invest.

Speaking to reporters immediately after the signing ceremony, Mrs Parker said the NPA will play host to the operation of the new cement factory, noting, “We are glad to have this multimillion dollar company to begin operation here at the NPA.”

After the signing ceremony, Mr Dangote and his 5-man delegation including the Group Managing Director, Knurt Ulvmoen visited the Liberian President, Ellen Johnson Sirleaf at the Ministry of Foreign Affairs.

The opening of a new cement factory in Liberia will bring to two the number of cement factories in Liberia. CEMENCO which is currently enjoying monopoly in the sector has been around for over fifty years.